Sky Protocol reported another profitable quarter in the second quarter of 2026, according to a Sky ecosystem report released by the Sky Frontier Foundation. The protocol generated $107.35 million in total protocol revenue, up 10.5% from a year earlier, while net protocol revenue rose 25.1% to $40.09 million. Over the past 12 months, total revenue reached $159.63 million. Net protocol surplus came in at $33.29 million, marking the fifth straight quarter in positive territory. The report also showed collateral growing 45.5% year over year to $12.32 billion, with sUSDS reaching $5.52 billion at the end of the quarter, up 149%. Sky Reserve received $29.87 million in retained funds during the quarter, the largest quarterly contribution since the March 14 capital restructuring, lifting reserves to $82.4 million by quarter end.
The Sky Frontier Foundation has released its Sky ecosystem report for the second quarter of 2026, showing that Sky Protocol remained profitable for a fifth consecutive quarter. Total protocol revenue reached $107.35 million, up 10.5% year over year, while net protocol revenue rose faster to $40.09 million, up 25.1%. That brought total revenue over the past 12 months to $159.63 million.
The report said net protocol surplus stood at $33.29 million in the second quarter, extending the run of positive quarterly surplus to five straight quarters. Protocol collateral increased 45.5% from a year earlier to $12.32 billion, and sUSDS reached $5.52 billion at the end of the quarter, up 149% year over year.
Sky Reserve received $29.87 million in retained funds during the second quarter. The report described that as the largest quarterly contribution since the capital restructuring on March 14, taking quarter-end reserves to $82.4 million.
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